Ramaphosa says SA ready to showcase economic gains at G20 Summit

As South Africa prepares to host the first-ever G20 summit on African soil, President Cyril Ramaphosa says the country is poised to showcase an economy beginning to recover after years of stagnation, energy instability, and slow growth. Writing in his weekly newsletter, Ramaphosa emphasised that several key developments over the past week reveal what he describes as “green shoots” of economic renewal. From improved job figures to stabilising electricity supply and better investor sentiment, the president says these indicators offer encouraging evidence that the country is gradually turning a corner.

According to Ramaphosa, a range of recent data points show the early signs of a strengthening economic trajectory. He noted that improvements in employment, credit ratings, and energy supply are slowly restoring confidence among both local and international investors. With South Africa set to welcome global leaders from the world’s largest economies to Johannesburg for the G20 summit, the president believes the timing could not be more symbolic.

Ramaphosa said the summit provides a unique opportunity for South Africa to present itself as a nation committed to reform, economic sustainability, and long-term growth. He stressed that the positive trends emerging in recent months allow the country to approach the gathering with renewed optimism.

Ramaphosa Sees Positive Economic Momentum Emerging

One of the most significant areas of improvement highlighted by Ramaphosa is the energy sector—long considered one of the biggest obstacles to economic stability. He said Eskom has made measurable progress in strengthening its operations, stabilising electricity supply, and reducing the frequency and intensity of power disruptions.

According to Ramaphosa, the progress is largely driven by massive investment in renewable energy generation, increased maintenance of existing power plants, and key operational reforms at Eskom. He argued that these developments are helping to restore reliability to the grid, creating better conditions for businesses to operate and expand.

The president reaffirmed that government remains committed to accelerating investment in wind, solar, and other clean energy sources, saying that South Africa’s energy transition is critical for both economic growth and environmental sustainability. As Eskom continues to implement its turnaround strategy, Ramaphosa believes the country is moving closer to achieving long-term energy security.

Another encouraging indicator cited by Ramaphosa is the latest labour market data from Statistics South Africa. The official unemployment rate fell to 31.9% between July and September this year, down from 33.2% in the previous quarter. This marks one of the most notable quarterly improvements in recent years.

In practical terms, Ramaphosa explained that this decrease means nearly 250,000 more people were employed in the third quarter. He said the gains reflect a broadening economic recovery and demonstrate that interventions aimed at supporting job creation in key sectors are yielding results.

Sectors such as finance, construction, manufacturing, and community services recorded some of the biggest increases in employment. Ramaphosa said this suggests that both private and public-sector initiatives are contributing to the gradual rise in job opportunities.

Beyond jobs and energy, Ramaphosa also pointed to encouraging developments in the country’s credit profile. He noted that positive ratings adjustments and outlook improvements by international agencies signal growing confidence in South Africa’s economic management and fiscal reforms.

While challenges remain, Ramaphosa said these changes indicate that investors are beginning to recognise the progress the government has made in stabilising public finances, reducing the deficit, and implementing structural reforms. Such improvements, he argued, could pave the way for increased foreign investment in the months ahead.

With world leaders preparing to descend on Johannesburg for the G20 summit, Ramaphosa said South Africa will use the event to highlight its reform efforts, infrastructure investments, and long-term plans for inclusive growth. He emphasised that the “green shoots” appearing across multiple sectors demonstrate that the country’s economic recovery is not theoretical—it is unfolding in measurable ways.

As the nation gears up for this historic global gathering, Ramaphosa believes South Africa is ready to present itself as a resilient, reform-driven economy that is steadily emerging from years of adversity. The president maintained that although significant challenges remain, the recent developments offer a foundation for optimism and a renewed sense of national momentum.

Source- EWN